TVI Pacific Inc. [TVI-TSXV; TVIPF-OTC] provided an update on exploration activities at the Balabag gold and silver project. Balabag is owned 100% by TVI Resource Development Phils., Inc., a Philippines corporation in which TVI holds a 30.66% interest, and is located in Zamboanga del Sur, Philippines.
Thirty-five drill holes with a total meterage of 2,866.50 meters have been completed through the Phase 4 drilling program and include:
Drill hole BLDH-20-351R1 in West Tinago returned 4.25 g/t gold and 102.36 g/t silver over 11.15 meters.
Drill hole BLDH-20-351R2 in West Tinago returned 15.60 g/t gold and 493.92 g/t silver over 8.55 meters.
Drill hole BLDH-20-253 in the Miswi Area returned 15.58 g/t gold and 515.57 g/t silver over 2.50 meters and a further 8.55 g/t gold and 134.13 g/t silver over 2.85 meters and 9.39 g/t gold and 222.74 g/t silver over 2.70 meters. 8.62 g/t gold and 127.33 g/t silver over 0.4 meters at a depth of 136.85 meters in Lalab, indicative of continuing gold mineralization at depth, from drill hole BLDH-20-354.
Drill hole BLDH-20-378 in east Tinago returned 15.98 g/t gold and 180.98 g/t silver over 1.25 meters.
A total of 382 drill holes with a total meterage of 41,161.60 meters have been completed since November 2005 through to December 2020. Drilling at Balabag continues with four rigs currently onsite.
Cliff James, Chairman and CEO of TVI and Chairman of TVIRD stated, “The latest results from our ongoing exploration program are excellent and are consistent with our strategy of continuing to expand our Balabag resource base to support growth of the Balabag Mine and the project portfolio of TVIRD. Current drilling has demonstrated the potential for additional gold mineralization laterally, near surface and at depth. It should be noted that drilling so far has been predominantly shallow such that there appears to be good potential for mineralization to be encountered at deeper levels than have been tested to date. TVIRD is currently incorporating these Phase 4 results into an updated NI 43-101 compliant resource estimate to better define the Balabag mineral resources as we continue with pre-commissioning of the Plant in preparation for the commencement of continuous milling operations.”